News

Tipped to Swing in 2012

By Phillip Elmowy

The property market has been tipped for an upswing in the New Year on the back of stronger domestic economic performance.

Speaking to Real Estate Business, Australian Property Monitors senior economist Andrew Wilson said the property market should undergo a “modest recovery” in 2012, resulting in greater lending and borrowing activity.

“Our strong economy will help our property market enter a modest recovery,” he said.
“OECD is reflecting 4 per cent growth over the year, which is above trend and very good especially when compared to other countries around the globe.”

On the back of this strong growth, Mr Wilson said he expects Australians to start spending again.

“They will definitely think about spending. They have been saving like crazy for the past 18 months and they have, in some instances, forgotten how to spend. But, I think confidence will return and, as it does, so will spending habits.”
“Moreover, the skills shortage in key areas will drive immigration, which will ultimately drive new buyers into the market – helping 2012 to become the year of recovery.

Source: Real Estate Business

Up to Date

Latest News

  • Whats the benefit of having more green in our home!?

    Why we should all have more plants in our life & our home!? As more of us live the urban life, greening up has become a vital wellbeing issue. Think about it: from the house to the car to the office and back again, how much nature did you get … Read more

    Read Full Post

  • Market Predictions Expected for 2018

    Mortgage rates are expected to keep rising Financial markets predict the Reserve Bank will lift the official cash rate off the record low 1.5 per cent level late in 2018, which would have a measurable impact on household mortgage payments. But even if that doesn’t happen, borrowers should prepare themselves … Read more

    Read Full Post